New research, commissioned by Superbank, shows that expectations and feelings on interest rates often run in conflicting directions.

For example, 40% of people who think rates will drop in the future still plan to fix their mortgage. Conversely, 15% who expect rising rates are also some of the most concerned about paying too much if they fix and interest rates subsequently go down.

"We believe that 12 months ago these concerns would not have been as marked. This is the human face of a rising interest rate environment for home-owners," Superbank chief operating officer James Munro says.

"The number of people making loan decisions against their better judgment really surprised me. However, with interest rates so high, people are really agonising about the decision to fix or float their mortgage."

Other interesting findings included:

• While 38.2 % of people currently have a mortgage, 3.3% are still planning to get a mortgage in the next six months despite the uncertainty
• 48% expect interest rates to keep rising over the next year, while 38.5% believe that the rate will rise a little further and then drop.
• Nobody believes rates will fall
• The threat of a big rate rise looms largest as the main concern for 40%
• For 15.5%, being stuck on a fixed term while rates fall worries them the most.